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[–] prairie ago  (edited ago)

That's basically interest: loan the money and get a share of profits in return.

Why would someone want to literally just loan you the money and get paid back say a year late the exact same amount? The currency itself will have lost some value over that year. There is also the risk that you won't pay it back. And they could have been using the money over that year to generate more wealth (buy tools, invest it, etc.).

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[–] virge [S] ago 

Too stupid to realize loaning money for profit as a predatory mechanism is both the entire downfall of our current system and most of my argument.

To stupid to live.

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[–] prairie ago  (edited ago)

But it's not the loaning of money, it's the creation of currency. It's two-fold: government forces their fake (unconstitutional) money on citizens, and then lets the Fed and banks print it out of thin air, debasing all the dollars people hold.

If the US dollar were still backed by metals, and banks actually had to loan out real dollars they held (and there weren't the awful FDIC insurance for banks that take big risks), you wouldn't have the destructive effects that fiat have.